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Developers Sound The Alarm On The Public Debate For Golden Passports

Developers Sound The Alarm On The Public Debate For Golden Passports

Following the recent Al Jazeera broadcast on the Cyprus Investment Programme, allegedly exposing individuals and criminals gaining a Cyprus passport for a price, the Association of Large Property Developers, in a recent statement, has argued that the continuation of the public debate on the matter is harmful to the economy.  


The Association argued that: “Recent reports combined with the ongoing row within the country, have taken their toll on the investment environment, which has also been struck by the coronavirus outbreak”. Sounding the alarm, it calls on all sites to put an end to the public debate.


“The appointment of a committee to probe into the issue, in connection with the Government’s decision to redesign and improve the institutional framework of the Investment Program, deems any further discussion of the issue unnecessary.”


The Association feels that the Programme has contributed significantly to the economic growth of the country and “therefore, we must all protect it, safekeeping it as the apple of our eye”.


At the same time, the developers declared their readiness to contribute with additional proposals and suggestions towards improving the institutional framework, in order to make it simpler and more functional.


“Everyone’s goal is to set up a serious and credible Investment Program which cannot be questioned by anyone, either at home or abroad,” the statement said.


The Association, in collaboration with the Government and other stakeholders, remains committed to promoting the Investment Program abroad in order to attract new investors.






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